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Why foreign investors abandon Nigeria – Dangote

(Last Updated On: September 27, 2017)

 

By Tinuade Salami

Insecurity situation in the country and rising cases of kidnapping have been identified as the major reasons many foreign investors in the agro-business sub-sector are shunning Nigeria.

Africa’s richest man, Aliko Dangote made this known while speaking on ‘Challenges Facing Agribusiness Investors in Nigeria.’ at the ongoing Agric Expo and Conference, organised by Nigeria Agribusiness Group in collaboration with other private and public sector agencies.

Dangote who was represented by an Executive Director in Dangote Group,Mosul Ahmed, lamented the spate of kidnapping on the Kaduna-Abuja Expressway, which he said had made investors, who own commercial farms to practically abandon them for fear of being attacked or kidnapped.

He also lamented bottlenecks in access to land by agribusiness investors, which he traced to the Land Use Act, and cautioned that if the Act was not revisited, it will impede the expected and desired diversification of the economy.

He also accused governments at all levels of lack of cooperation and protection of investors in the agricultural sector, noting that there is no synergy on inter-governmental relationship for better performance and productivity by the sector

He therefore urged government at all levels to begin work together, where necessary, on proactive approach, particularly on securing land for commercialized agriculture.

He added that Agriculture could not thrive in Nigeria except there is cooperation between all the agencies of government.